Corporate Reporting in India

9449 Words Jan 27th, 2011 38 Pages
REPORTING PRACTICE OF THE CORPORATE SECTOR IN INDIA

Sham Lal & Sonia
Lecturer in Commerce, Guest Faculty, Govt. Bikram College of Commerce, Patiala . Research Scholar, Dravidian University, Kuppum, AP. MA Economics Part II, Punjabi University, Patiala

Abstract
Disclosure is the communication of various details regarding the activities of the business which are to be disclosed either statutorily or otherwise, and it is to convey a true and fair view of the operating results and financial position to the users of financial reports. The study points out that the effective corporate reporting can only be achieved by a voluntary change in the corporate reporting philosophy. In order to achieve high standards of corporate reporting
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They have suggested that the management of a company should take more interest in this area. . D.R. Singh and S.K. Bhargava (1978) in their study “Quality of Disclosure in the Public Sector Enterprises” have examined the annual reports of 40 public sector enterprises for the year 1972-73. They have concluded that the quality of disclosure varies from enterprise to enterprise. They have suggested that the quality of disclosure of information in the annual reports should be improved. Jawahar Lal (1985) in his book entitled “Financial Reporting by Diversified Companies” has examined an important issue namely whether diversified companies should report their results on segmental basis in their annual reports. He has discovered that the majority of Indian investors covered in the study prefer segment reports on the basis of broad industry grouping. Claire Marston (1986) in his published dissertation entitled “Financial Reporting in India” has attempted to compare and contrast the financial reporting practices in the United Kingdom and India. He has concluded that the financial reports in India fail to satisfy the needs of the investors. H.S.Oza (1990) in his research paper “New Perspectives in Corporate Financial Reporting in India” has highlighted the new perspectives in corporate financial reporting in India. The main developments include Interim Financial Reporting, Board’s Report, Auditors’ Report, Inflation
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